Enovis (NYSE:ENOV) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Enovis (NYSE:ENOV) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts also recently commented on ENOV. Wall Street Zen upgraded Enovis from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Evercore reiterated an “outperform” rating on shares of Enovis in a report on Monday, January 12th. BTIG Research increased their price target on Enovis from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. UBS Group restated a “buy” rating and set a $50.00 price target on shares of Enovis in a research note on Monday, January 5th. Finally, Needham & Company LLC lifted their price objective on Enovis from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Enovis currently has a consensus rating of “Buy” and an average price target of $47.43.

Enovis Price Performance

Enovis stock opened at $22.97 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.02 and a quick ratio of 1.04. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -1.11 and a beta of 1.46. The firm has a 50-day moving average of $23.55 and a two-hundred day moving average of $27.64. Enovis has a 1 year low of $21.00 and a 1 year high of $40.69.

Enovis (NYSE:ENOV) last issued its earnings results on Thursday, February 26th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. Enovis had a negative net margin of 52.69% and a positive return on equity of 8.74%. The business had revenue of $575.76 million for the quarter, compared to analyst estimates of $584.30 million. During the same period last year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. On average, research analysts forecast that Enovis will post 2.79 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Oliver Engert bought 1,000 shares of the stock in a transaction on Friday, February 27th. The stock was bought at an average price of $25.50 per share, for a total transaction of $25,500.00. Following the completion of the acquisition, the insider directly owned 43,640 shares in the company, valued at approximately $1,112,820. This represents a 2.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 5,000 shares of company stock valued at $121,983 over the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ENOV. AQR Capital Management LLC raised its position in shares of Enovis by 12.5% in the 1st quarter. AQR Capital Management LLC now owns 63,671 shares of the company’s stock worth $2,363,000 after acquiring an additional 7,072 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Enovis by 37.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company’s stock worth $10,226,000 after purchasing an additional 73,116 shares during the last quarter. Empowered Funds LLC boosted its position in Enovis by 13.0% during the first quarter. Empowered Funds LLC now owns 6,515 shares of the company’s stock valued at $249,000 after purchasing an additional 749 shares in the last quarter. ProShare Advisors LLC purchased a new position in Enovis in the second quarter valued at about $400,000. Finally, PNC Financial Services Group Inc. grew its stake in Enovis by 7.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,490 shares of the company’s stock valued at $298,000 after purchasing an additional 650 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Enovis Company Profile

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.